Malaysia’s Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Do You Get Year End Bonus From Your Employer?

Year 2008 & 2009, i did not get any year end bonus from my job accomplishment but this year will be the first time I’m at a company where I can get an annual bonus, but I’m not holding my breath that anything is coming my way. I just have plan on how to get it and try to perform very well at current company in order to accomplish my goals.

In Malaysia, bonuses are taxed just like our regular salary. Started from this year, my current company will give out bonus based on employee performance merit and i found that this is a good motivator. I consider myself very lucky to work under such a pay scale company and find myself very rarely complaining about my job. Sometimes, I might work late or a bit pressure when I need to have very high job satisfaction.

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Will Malaysia Electricity Tariff Hike?

Many people also agree that prices always go up instead of going down. The value of money will go down. When every Malaysian is trying hard to cope with the fuel price hike, sugar price hike, and cigarette price hike, the news on new electricity tariff has caught everyone attention as well.

Our current electricity tariff is - the first 200 kW of usage, the rate is 0.218(rate) x 200(unit) but if your electricity usage is beyond the first 200 kW, the rate is 0.334. Let say if your electricity tariff for the month is 225 units, then the calculation will be like this:

200 kWh x 0.218 = RM43.60
25 kWh x 0.334 = RM8.35

Total = RM51.95

Be Prepared Before Bad Thing Come

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Latest Fixed Deposit Rates(FD Rates) In Malaysia

If you having tough time to make decision on which bank should you put your money into fixed deposit account to earn better interest rates, then you have come to the right place as you can see a list of comparison among all Malaysia banks here.

Since now is year 2010, perhaps it is a great time for me to review the latest Malaysia fixed deposit rates of banks this January 2010. But, please bare in mind that the rates may go up and down at any time. You are advised to confirm the latest fixed deposit rates with the respective banks concerned.

Last time the FD rate for 1 month is about 3.0%, but now become 2.0% only. I can feel that the decreasing interest rate is making the value of the money in bank become smaller. So, it’s not a good idea if continue to do put your money into fixed deposit account as it may easily wipe out millions of profit or loss.

Latest Malaysia Fixed Deposit Rates:

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My Simple Ways to Save Money

These are my personal tips on how to save money for your own future. Most of the time I will try to make use of my negotiation skills, finding some discount voucher and coupon, be sensitive with what people said where and which is cheaper. These are the common thing that I am doing frequently in order to make sure that I can have financial freedom in future.

How Can I Save Money In My Real Life?

Almost every month before I receive my paycheck, i will try to save a portion of it — almost 50% of my income will go to saving. You can try to save your extra funds into different types of saving account, which may earn you some interest.

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Public Bank Visa Electron Debit Card Annual Fees

I still remember i applied Public Bank Visa Electron debit card since the beginning of year 2007, at that time i used it to verify my personal paypal account. And, i found that it bring convenient for me to withdraw money from paypal to my Public Bank debit card account.

The way of using debit card is totally different from credit card, you will have more better financial management because you need to have enough money in the debit card before you can make any purchase.

My Advise For All Malaysian

Since our government implement the latest credit card scheme, which every principal credit card will be charged RM50 and supplementary card holder charged RM25, then now it’s great chance for you to own debit card. Besides that, the process of applying debit card is very easy and you no need to have income requirement.

Annual Fees of Public Bank Debit Card

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Malaysia’s Labor Law: Retrenchment

It’s good to know your rights especially when you are being retrenched. As an employee, you should know about the lay off benefits and how much employer should pay you back.

Under the Malaysia Labor Law: Employee Act 1055 or Industrial Relation Act 1967, this is the minimum amount of money the employer should pay the employee if they decide to retrench. If you have been working for a company:

*Between 1 to 2 years, you should get minimum of 10 days salary for each year of your employment under a continuous contract of service with the employer.

*Between 2 to 5 years, you should get minimum of 15 days salary for each year of your your employment under a continuous contract of service with the employer.

*Above 5 years, you should get minimum of 20 days salary for each year of your your employment under a continuous contract of service with the employer.

How about if you work for 1.5 years, 2.2 years, 2.5 years, 3.4 year? Let say, if you work for 1.5 years, then the retrenchment compensation will be calculated like this:

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Redbox DotRed Card Promotion

As you may aware, started since 4th of January 2010, Redbox changed the way they are distributing their voucher for DotRed card member. Now they are offering special promotion, you will receive My Birthday Fun vouchers during your birthday. In this My Birthday Fun, it has total 7 vouchers (2x Free Head Charge, 1x Free Bottle Sparkling Juice, 1x Free Jug of Soft Drink, 1x Buy 3 Free 1 Head Charge, 1x Buy 3 Free 1 Lunch, 1x 3 Jugs beer with RM88++).

I still remember last time they will give RM150 voucher which is RM50+RM100 vouchers. In order to make use of RM50 discount vouchers, the DotRed card member need to bring/invite at least 5 friends while RM100 discount vouchers require 10 friends.

How to Signup As Redbox DotRed Membership?

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